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Fitch lowers Coca-Cola Icecek
Fitch Ratings said it downgraded Coca-Cola Icecek's long-term foreign-currency and local-currency issuer default ratings to BB and BBB-. Both are on negative outlooks.
“This rating action follows the downgrade of Turkey's issuer default rating and country ceiling,” the agency said in a news release.
The actions reflect a view of a deteriorated operating environment in Turkey, including weaker assessment of systemic governance of the country, Fitch said.
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